29Failure to purchase

29 Failure to purchase

(1)  If the lessee or licensee does not wish to purchase the shack site, the Minister may, in the Minister's absolute discretion –

(a) offer the lessee or licensee a lease of the shack site under and subject to the Crown Lands Act 1976 for a term not exceeding 10 years at a rental calculated by multiplying the assessed secondary market yield on 10 year Treasury Bonds on the last business day of the months of March, June, September and December of each year as published by the Reserve Bank of Australia plus a margin of 2%, rounded to the nearest first decimal place, and the undiscounted sale price of the shack site under section 25(2) ; or

(b) serve a removal notice on the lessee or licensee in the same manner as if a determination under section 4(1)(b) had been made in relation to the shack site.

(2)  The provisions of sections 21 , 22 , 23 and 24 apply to a removal order served under this Division in the same manner as those provisions apply to a removal order served under section 20 .